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Alter NRG announces shareholder approval of private placement

TSX - NRGOTCQX - ANRGF

CALGARY, Dec. 31, 2012 /CNW/ - (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp.
("Alter NRG" or the "Company") is pleased to announce that at the
special meeting (the "Meeting") of shareholders held on December 28,
2012, the Company's shareholders approved the private placement of
34,153,845 common shares of the Company to four investors at a price of
$0.325 per common share for total gross proceeds of approximately $11
million (the "Financing"). In accordance with the requirements of the
TSX, the resolution was supported by a majority of the votes cast by
shareholders present in person or represented by proxy at the Meeting,
excluding the votes attached to any common shares held by the investors
participating in the private placement.

At the Meeting the shareholders also approved, by way of special
resolution, the amendment to the Company's articles to increase the
maximum number of directors from seven to nine. The special resolution
required, and received, the support of over 66 2/3% of the votes cast
by shareholders on the resolution present in person or represented by
proxy at the Meeting.

Upon receiving final TSX approval, the Company expects to complete the
Financing in January, 2013.

ABOUT ALTER NRG

Alter NRG provides alternative energy solutions to meet the growing
demand for environmentally responsible and economically viable energy
in world markets. Alter NRG's primary objective is to further
commercialize the Westinghouse Plasma Gasification Technology, through
its wholly owned subsidiary, to provide renewable and clean energy
solutions from a wide variety of feedstocks, and provide a wide variety
of energy outputs - including liquid fuels like ethanol and diesel,
electrical power, and syngas.

The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.

Advisory Respecting Forward-Looking Statements:
This news release contains certain "forward-looking information and
statements" within the meaning of applicable securities laws. The use
of any of the words "expect", "anticipate", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should", "believe",
"plans", "intends", "confident", "might" and similar expressions are
intended to identify forward-looking information or statements. In
particular, this new release contains forward looking statements
pertaining to the anticipated closing of the Financing and the
satisfaction of the conditions precedent to closing the Financing.
Various assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout this
news release.

The forward-looking information and statements included in this news
release are not guarantees of future performance and should not be
unduly relied upon. Forward-looking statements reflect management's
current beliefs and assumptions, based on information currently
available to management. A number of factors could cause actual results
to differ materially from the results discussed in the forward-looking
statements, many of which are beyond the control of the Corporation.
Among the material factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are:
not receiving TSX approvals or not receiving such approvals on the
terms anticipated by the Company. Such information and statements
involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those
anticipated in such forward-looking information or statements.

The Corporation cautions that the foregoing list of assumptions, risks
and uncertainties is not exhaustive. The forward-looking information
and statements contained in this news release speak only as of the date
of this news release, and the Corporation assumes no obligation to
publicly update or revise them to reflect new events or circumstances,
except as may be required pursuant to applicable securities laws.